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☆ Sam Bankman-Fried considered paying Trump $5 billion not to run for president, Michael Lewis tells '60 Minutes'
▼ + stars: | 2023-10-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried, the alleged crypto criminal who stands accused of masterminding one of the biggest financial frauds in U.S. history, was considering paying Donald Trump $5 billion not to run for president, according to best-selling author Michael Lewis. In an interview with CBS's "60 Minutes" that aired on Sunday, Lewis said the FTX founder wanted to put a stop to a Trump White House run in 2024 over fears that the former president was a threat to democracy. "Sam's thinking, 'We could pay Donald Trump not to run for president. And the number that was kicking around when I was talking to Sam about this was $5 billion. Sam was not sure that number came directly from Trump."

Persons: Sam Bankman, Donald Trump, Michael Lewis, CBS's, Lewis, Sam, Fried, Bernie Madoff Organizations: Trump White, Bankman Locations: New York, Trump, Manhattan

☆ FTX spent $1 million removing one doorway and adding another after a dispute over feng shui, biography says
▼ + stars: | 2023-10-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

FTX hired two architects to design its multi-million dollar Bahamas HQ, per an upcoming biography. That unveiled one anecdote where FTX spent $1 million to settle an argument over a door in its former office. AdvertisementAdvertisementFTX spent $1 million removing one doorway and adding another when it was headquartered in Hong Kong, according to an excerpt from Michael Lewis' upcoming biography shared by The Times of London. AdvertisementAdvertisement"We were supposed to design a mini-city," Rosenfield told the biographer. In the end, the doorway was removed and another one was added instead, which cost $1 million, according to Lewis' biography.

Persons: FTX, —, Michael Lewis, Lewis, Ian Rosenfield, White, Rosenfield, I've Organizations: Bahamas, Service, The Times, Fortune Locations: Hong Kong, London, Bahamas, Asia

☆ Anna Wintour wanted Sam Bankman-Fried to sponsor the Met Gala, but he had no idea who she was, FTX book author says
▼ + stars: | 2023-10-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Anna Wintour once sought Sam Bankman-Fried's sponsorship for the Met Gala, says Michael Lewis. But the author told "60 Minutes" that Bankman-Fried had no idea who Wintour was. AdvertisementAdvertisementVogue's Anna Wintour wanted to secure Sam Bankman-Fried's sponsorship for the Met Gala, but Bankman-Fried didn't know who she was, according to the author of an upcoming book on FTX. And he says, "There's this person named Anna Wintour,'" Lewis told "60 Minutes" correspondent Jon Wertheim. Lewis told "60 Minutes" that on this particular occasion, he "sat off to one side," where Wintour couldn't see him on the call.

Persons: Anna Wintour, Sam Bankman, Michael Lewis, Fried, Wintour, Lewis, —, Jon Wertheim, Wintour couldn't, Bankman, FTX Organizations: Service, New York's Metropolitan Museum of Art, Court, District of Locations: America, Bankman, District of Delaware, Alameda

☆ Sam Bankman-Fried took 21 private jet trips to and from Washington, and chartered Cessnas to transport Amazon packages to FTX HQ, sources say
▼ + stars: | 2023-09-30 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

FTX spent $15 million on flights and plane upgrades with a charter airline, a court filing said. Bankman-Fried made 21 trips to or from Washington, DC, on a Learjet 60, a person with direct knowledge told Insider. AdvertisementAdvertisementSam Bankman-Fried and FTX frequently chartered private jets from a Bahamian company called Trans Island Airways (TIA), three people familiar with the matter told Insider. They added that each trip cost between $20,000 and $30,000, which means the Learjet flights alone could cost more than $1 million. AdvertisementAdvertisementProsecutors allege that Bankman-Fried orchestrated a scheme that involved funneling $100 million of FTX funds through executives to politicians .

Persons: FTX, Fried, —, Sam Bankman, Joe Bankman, Jerome Powell, Martin, Ryan Salame, Bankman, Michael Lewis, Lewis, Sam, Ryan, Sam's Organizations: Service, Trans Island Airways, TIA, Amazon, Bombardier Global, Embraer ERJ, Trans, Airways, Prosecutors, Capitol, Yorker, New York Times, Federal, Learjet, Bankman, TIA's, Cessna, Fort, Fort Lauderdale Executive Airport, Twitter Locations: Washington, DC, Florida, Bahamas, Caribbean, New York, Chicago, Fort Lauderdale

☆ ‘Big Short’ investor Steve Eisman says the whole bank sector is 'uninvestable'
▼ + stars: | 2023-09-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman, the investor who called and profited from the subprime mortgage crisis, said Thursday that he's staying away from bank stocks due to risks from crimped margins and tougher regulations. "I happen to think the whole bank sector is uninvestable," Eisman, senior portfolio manager at Neuberger Berman, said on CNBC's " Squawk Box. " Uncertainty caused by the collapse of Silicon Valley Bank earlier this year triggered outflows at other regional banks and larger institutions. With short-term rates spiking higher than long-term rates, bank margins have been hurt. The SPDR S & P Regional Banking ETF , which tracks 140 regional banks, has fallen more than 33% this year.

Persons: Steve Eisman, he's, Eisman, Neuberger Berman, Eisman's, Banks, Michael Lewis Organizations: Federal, Regional Banking ETF Locations: Silicon

☆ Tuohy family denies Michael Oher accusations, says NFL player was paid for 'The Blind Side' story, court documents say
▼ + stars: | 2023-09-15 | by ( Jennifer Henderson Eric Levenson | Jennifer Henderson | Eric Levenson | ) edition.cnn.com time to read: +3 min

Oher’s petition says soon after he moved in with the family in 2004, the Tuohys gave him legal papers he thought were necessary for the adoption. Conservatorship was the tool chosen to accomplish this goal.”“There was never an intent to adopt him,” the Tuohy’s response states. The Tuohys say it is “demonstrably false” that Oher only found out in February 2023 that he wasn’t adopted. The Tuohys say all the money received from “The Blind Side” movie has been split equally between Sean and Leigh Anne, their two children and Oher – 20% each. The Tuohys said Oher’s share was paid to them, they paid the taxes for a period of time but wrote Oher a check for his full 20% share.

Persons: Sean, Leigh Anne Tuohy, Michael Oher, Oher, “, ”, Oher’s, Conservatorship, wasn’t, Tuohys, Michael Lewis, Leigh Anne, Don Barrett, Mike, ” Barrett Organizations: CNN, NFL, football “, NCAA, Ole Miss, Mike’s Locations: Tennessee, Oher

Lawyers representing the couple also said the Tuohys would enter into a consent order to end the conservatorship. But Oher’s conservatorship was approved “despite the fact that he was over 18 years old and had no diagnosed physical or psychological disabilities,” his petition said. The Tuoys' filing said Oher referred to them as “mom” and dad," and they occasionally referred to Oher as a son. Agents negotiated a small advance for the Tuohys from the production company for “The Blind Side,” based on a book written by Sean Tuohy’s friend Michael Lewis, the couple’s lawyers have said. The attorneys said they estimated each of the Tuohys and Oher received $100,000 apiece, and the couple paid taxes on Oher’s portion for him.

Persons: Michael Oher, Sean, Leigh Anne Tuohy, Oher, Sandra Bullock, Oscar, Oher’s conservatorship, ”, ” “, Tuohys, Sean Tuohy, ” Ole Miss, Ole, Sean Tuohy’s, Michael Lewis, “ Organizations: NFL, Oher, NCAA, University of Mississippi, Ole Miss, Agents, Baltimore Ravens, Tennessee Titans Locations: MEMPHIS, Tenn, Memphis, Tennessee, Mississippi, Carolina

☆ Uniper CEO: We're living in a more volatile energy pricing environment
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUniper CEO: We're living in a more volatile energy pricing environmentMichael Lewis, CEO of Uniper, discusses the outlook for European energy supply and the continent's resilience to potential price volatility.

Persons: Michael Lewis

☆ Opinion | I Have a Pretty Good Idea Why Michael Oher Is Angry
▼ + stars: | 2023-08-26 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +2 min

It’s the story of Michael Oher, a young Black athlete who moves in with a white family, the Tuohys, and goes on to play for Ole Miss and in the N.F.L. I was adopted, as Mr. Oher believed himself to have been. And I’m a former equity analyst who’s a fan of Michael Lewis, the author of the book on which the movie was based. Those stereotypes, and the possibility that there is another very different way to tell his story, are at the center of the lawsuit Mr. Oher recently filed. Mr. Oher, now 37 and retired from the N.F.L., is suing the Tuohys because he claims they misled him to believe that the legal conservatorship they held over him was essentially the same as adoption.

Persons: Michael Oher, Oher, who’s, Michael Lewis, —, Black Organizations: Ole Miss, Auburn Locations: Alabama

☆ The Story Behind This Modernist House Has as Many Twists and Turns as Its Architecture
▼ + stars: | 2023-08-24 | by ( Fred A. Bernstein | ) www.wsj.com time to read: 1 min

When it came to her houses, Julia Reyes Taubman, a Detroit-based philanthropist, photographer and collector, followed her gut, however edgy the results. “She had a fantastically educated but also madcap eye,” says Michael Lewis, the Paris-based interior designer who worked with her on several homes. Julie—as she was widely known—“never chose the obvious thing.”

Persons: Julia Reyes Taubman, “, ”, Michael Lewis, Julie — Locations: Detroit, Paris

☆ 'The Blind Side' author Michael Lewis and Sean Tuohy discuss movie deal with CNBC in 2010 interview
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'The Blind Side' author Michael Lewis and Sean Tuohy discuss movie deal with CNBC in 2010 interview'The Blind Side' author Michael Lewis and Sean Tuohy discuss the book and movie deal in this CNBC interview from March 2010.

Persons: Michael Lewis, Sean Tuohy Organizations: CNBC

☆ The Blind Side of Sports Storytelling
▼ + stars: | 2023-08-17 | by ( Kurt Streeter | More About Kurt Streeter | ) www.nytimes.com time to read: +1 min

Of course America loved “The Blind Side,” the 2009 movie about a homeless and hapless Black teenager rescued from a bleak future by a wealthy, white family. It was based on the true story of the Tuohy family, led by Sean and Leigh Anne, who took the future N.F.L. player Michael Oher into their home and raised him proudly as he made it to college and beyond. The film took in over $300 million and Sandra Bullock won an Oscar for her portrayal of Leigh Anne Tuohy, self-possessed belle of the New South. But “The Blind Side,” based on the best-selling book by Michael Lewis, renders a complicated reality in the most digestible format.

Persons: “, Sean, Leigh Anne, Michael Oher, It’s, Sandra Bullock, Leigh Anne Tuohy, Michael Lewis Organizations: Oher Locations: America

☆ Michael Oher: 'The Blind Side' star's long effort to correct the record
▼ + stars: | 2023-08-15 | by ( Eric Levenson | ) edition.cnn.com time to read: +12 min

CNN —In his 2011 memoir, Michael Oher wrote that he had a special skill for forgetting his difficult past. Sean Tuohy told the Daily Memphian that his family was devastated. In 2003, he began to stay more often with the Tuohy family, whose daughter Collins also attended Briarcrest. Another contract from April 2007 exists that was “purportedly signed by Michael Oher” in which Oher gives away his name, likeness, voice, etc. “It’s hard because you have to defend yourself, but whatever he wants, we’ll do,” Sean Tuohy said, according to the Daily Memphian.

Persons: CNN —, Michael Oher, “, ”, Oher, White, Sean, Leigh Anne Tuohy, Steve Farese, Sean Tuohy, Michael, Don Yaeger, “ ‘, I’d, Ole Miss Michael Oher, Ole, Matthew Sharpe, ” Oher, Michael Lewis, Lewis, Mike, Collins, Tuohy, David Bergman, Sandra Bullock, Oscar, Lily Collins, Tim McGraw, Jae, Quinton Aaron, Warner, Larry French, “ Michael, Michael Oher’s, Oher “, Michael Oher ”, ” Tuohy, “ We’re, he’d, ‘, You’ve, It’s, Sean Tuohy Jr, ’ ”, Tiffany Roy, Kobi, Kierstin, Jim Rome, that’s, ’ Organizations: CNN, ”, Ole Miss, Mississippi State, Briarcrest Christian School, University of Mississippi, Baltimore Ravens, AP, Academy, Warner Bros, Baltimore, Tennessee Titans, Carolina Panthers, NFL, Foundation, Creative Artists Agency, Daily, Barstool Radio, ’ ” CNN Locations: Memphis, Tennessee, Oxford , Mississippi, Baltimore

☆ Michael Burry, of ‘Big Short’ fame, just bet $1.6 billion on a stock market crash
▼ + stars: | 2023-08-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Michael Burry, the “Big Short” investor who became famous for correctly predicting the epic collapse of the housing market in 2008, has bet more than $1.6 billion on a Wall Street crash. Burry is making his bearish bets against the S&P 500 and Nasdaq 100, according to Security Exchange Commission filings released Monday. Burry is using more than 90% of his portfolio to bet on a market downturn, according to the filings. The S&P 500 and Nasdaq 100 have both notched big gains so far this year. While one big payoff doesn’t guarantee future returns, Burry does have a strong investment record.

Persons: New York CNN — Michael Burry, Burry, bearish, “, ”, Michael Lewis, Christian Bale, JPMorgan Chase, Michael Burry’s, Scion’s Organizations: New, New York CNN, Nasdaq, Security Exchange, Scion Asset Management, First Republic Bank, Huntington Bank, Western Alliance, JPMorgan, JD.com, Scion, Expedia, MGM Resorts, MGM, CVS, CNN, Warner Bros ., Traders Locations: New York, China, Huntington

☆ ‘The Blind Side' subject Michael Oher says adoption by Tuohy family was a lie, he was cut out of money from movie
▼ + stars: | 2023-08-14 | by ( Doha Madani | Diana Dasrath | ) www.cnbc.com time to read: +4 min

Michael Oher #73 of the Carolina Panthers watches play against the Arizona Cardinals during the NFC Championship Game at Bank Of America Stadium on January 24, 2016 in Charlotte, North Carolina. "The lie of Michael's adoption is one upon which Co-Conservators Leigh Anne Tuohy and Sean Tuohy have enriched themselves at the expense of their Ward, the undersigned Michael Oher," the petition to terminate the conservatorship in Shelby County Court in Tennessee said. The story of Oher and the Tuohy family became the subject of an Oscar-winning film, "The Blind Side," starring actor Sandra Bullock in the role of Leigh Anne Tuohy. According to the petition, Oher does not recall signing the agreement for the rights to his life story. In addition to termination, Oher's petition requests the court issue an injunction barring the Tuohys from using his name and likeness.

Persons: Michael Oher, —, Conservators Leigh Anne Tuohy, Sean Tuohy, Sandra Bullock, Leigh Anne Tuohy, Michael Lewis, Leigh Anne, Oher, Michael, Oher's, Tuohys Organizations: Carolina Panthers, Arizona Cardinals, NFC, Bank Of America, NFL, Shelby County Court, Century Fox, Briarcrest Christian School, NBC News, Creative Artists Agency Locations: Charlotte , North Carolina, Shelby County, Tennessee

☆ Michael Oher, depicted in ‘The Blind Side,’ alleges he was never adopted by Sean and Leigh Anne Tuohy, but signed into a conservatorship
▼ + stars: | 2023-08-14 | by ( Jennifer Henderson Eric Levenson | Jennifer Henderson | Eric Levenson | ) edition.cnn.com time to read: +8 min

A lawyer for Sean and Leigh Anne Tuohy, Steve Farese, said they have no comment but will be issuing a statement Tuesday. During the summer after his junior year, Oher started staying with Sean and Leigh Anne Tuohy occasionally. Instead, the papers appointed Sean and Leigh Anne Tuohy his conservators. Another contract from April 2007 exists that was “purportedly signed by Michael Oher” in which Oher gives away his name, likeness, voice, etc. Sandra Bullock won best actress for her performance of Leigh Anne Tuohy in the 2010 82nd annual Academy Awards.

Persons: CNN —, Michael Oher, ”, Sean, Leigh Anne Tuohy’s conservatorship, Oher, Leigh Anne Tuohy, Steve Farese, Sean Tuohy, “, Michael, ” Sean Tuohy, Oher’s, Michael J, ” Oher, Michael ”, Tuohy, Dad ”, “ Michael, Michael Oher’s, Oher “, Michael Oher ”, Conservators, Michael Lewis, ” Tuohy, Lewis, “ We’re, he’d, ‘, You’ve, It’s, Sandra Bullock Organizations: CNN, NFL, Juvenile, Creative Artists Agency, ESPN, University of Mississippi, Ole Miss, Baltimore Ravens, AP, Baltimore, Tennessee Titans, Carolina Panthers Locations: Tennessee, Memphis, alma mater, Baltimore

☆ Michael Burry of ‘The Big Short’ fame reveals potential big bets against the market, tech stocks
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Michael Burry, known for calling the subprime mortgage crisis, just unveiled potential massive bets against the stock market, according to a new regulatory filing released Monday. Burry's hedge fund, Scion Asset Management, owned put options against 2,000,000 shares of the SPDR S & P 500 ETF Trust , the popular ETF that tracks the S & P 500. These 20,000 options contracts were against shares worth $738.8 million at the end of the second quarter. The S & P 500 is off the last two weeks as investors debate whether the U.S. can skirt a recession and whether the Federal Reserve is done raising rates. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name.

Persons: Michael Burry, Burry, QQQ, Michael Lewis Organizations: Scion Asset Management, Trust, Scion, Nasdaq, CNBC, Federal, MGM Resorts, CVS Health Locations: Burry's, U.S

REUTERS/Adrees LatifNEW YORK, Aug 14 (Reuters) - Michael Burry, the money manager made famous in the book and film "The Big Short," held bearish options against the broad S&P 500 and Nasdaq 100 Index at the end of the second quarter, according to securities fillings released on Monday. Put options convey the right to sell shares at a fixed price in the future and are typically bought to express a bearish or defensive view. Michael Lewis' nonfiction book "The Big Short" was released in 2010 and the movie version came out in 2015. The S&P 500 (.SPX) is up roughly 17% for the year to date while the Nasdaq 100 (.IXIC) is up nearly 39% over the same period. Burry, who frequently turns over his portfolio, drew wide attention last August when he dumped all of his long positions and bought a stake in prison company Geo Group Inc (GEO.N).

Persons: Adrees Latif, Michael Burry, Michael Lewis, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Matthew Lewis Organizations: Nasdaq, REUTERS, YORK, Scion Asset Management, U.S, Nvidia, HK, Alibaba Group Holdings, Western Alliance Bancorp, First Republic Bank, RealReal Inc, Warner Bros ., Warner Brothers, Scion, Management, Geo Group Inc, Thomson Locations: Square, Midtown New York, New York

☆ When art and money meet
▼ + stars: | 2023-08-11 | by ( Amanda Taub | ) www.nytimes.com time to read: +2 min

I’ve often thought that if one was looking for niche curses to place on enemies, “May you be profiled by Patrick Radden Keefe” would be a particularly potent option. Amid such company, Larry Gagosian, the global art-market king who is the subject of Radden Keefe’s latest profile, gets off relatively lightly. I was reminded of one of my favorite exhibitions of all time, “The Steins Collect,” which I saw at the Metropolitan Museum of Art in New York a decade ago. Regular readers will know that I like biographies about artists, so you might have expected the Gagosian profile to send me reaching for more of those. (I wonder what Lewis, who studied art history as a Princeton undergraduate before going into finance and then journalism, would make of Gagosian.)

Persons: I’ve, “, Patrick Radden Keefe, Guzmán Loera, El, Gerry Adams, Larry Gagosian, Radden, Radden Keefe, Gagosian, Matisse, Picasso, Gertrude Stein, Michael Lewis, Lewis Organizations: New Yorker, Irish Republican, Metropolitan Museum of Art, Wall, Princeton Locations: Mexican, New York

Companies Uniper SE FollowGazprom PAO FollowDUESSELDORF, Aug 1 (Reuters) - Uniper (UN01.DE) announced plans on Tuesday to triple its green investments in the coming years as it confirmed strong financial results in the first half driven by favourable market conditions in a turnaround for Germany's bailed-out utility. Uniper said it would invest 8 billion euros ($8.79 billion) through 2030 for its green transformation alone, triple its average annual investments of the past three years. In May, it flagged profits of more than 2 billion euros expected from hedging its gas supply commitments. Expecting no further financial losses from procuring replacement gas volumes, Uniper said on Tuesday no further capital increases from the German state would be necessary. Its credit line from the KfW state lender has been reduced ahead of schedule to 11.5 billion euros from 16.5 billion euros, the company said.

Persons: Germany's, Uniper, Michael Lewis, Vera Eckert, Rachel More, Friederike Heine, Muralikumar Organizations: Gazprom, Thomson

☆ Here's what happens to the Dow after a 13-day winning streak, according to history
▼ + stars: | 2023-07-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The Dow Jones Industrial Average closed higher for 13 consecutive days this week, notching its longest winning streak since 1987. Only four such rallies were sustained for 12 days, with the longest winning stretch set at a record 13 days in 1987. In the week following a 10-day streak of gains, stocks have previously held on to their profits, staying flat on average. On average, stocks were also flat a month after a 10-day winning streak. In the quarter after a 10-day streak of gains, stocks have returned an average 2.4% in the past.

Persons: Dow Jones, Dow, Steve Eisman, Neuberger Berman, CNBC's, Michael Lewis, Jerome Powell, —, Fred Imbert Organizations: Dow Jones, America, Boeing, Dow, CNBC, Investors, Federal

☆ The Dow just posted its best winning streak since the 1980s. Why it keeps going higher
▼ + stars: | 2023-07-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Brendan McDermid | ReutersThe Dow Jones Industrial Average just won't stop going higher it seems like. The Dow on Wednesday rose for a 13th straight day, matching its longest winning streak since 1987. Both are up just 3% since the Dow's streak began. There are several reasons for the Dow's streak, but none may be bigger than recession fears easing. Stock Chart Icon Stock chart icon Dow riding 12-day winning streakNo more recession?

Persons: Brendan McDermid, Dow, Steve Eisman, Neuberger Berman, CNBC's, Michael Lewis, Jerome Powell, Goldman Sachs, Johnson Organizations: New York Stock Exchange, Reuters, Dow Jones, Dow, Nasdaq, Federal, Companies, Goldman Sachs Group, Inc, UnitedHealth, JPMorgan Chase &, Johnson, Intel, CAT Caterpillar Inc Locations: New York City, U.S, Chevron

☆ Steve Eisman says the stock market can keep running higher, since there's no evidence of a recession
▼ + stars: | 2023-07-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman, the investor who called and profited from the subprime mortgage crisis, said Monday that the stock market could continue to march higher if there's no sign of a recession. "So far, there's no evidence of a recession. So as long as there's no evidence of recession, and I think the market will probably continue to melt up; people are chasing," Eisman, senior portfolio manager at Neuberger Berman, said on CNBC's " Squawk Box." "We came into the year where most people were predicting the most anticipated recession that's never happened," Eisman said. But there's no data to support it at this time," Eisman said.

Persons: Steve Eisman, Eisman, Neuberger Berman, Michael Lewis Organizations: Dow Jones, Federal Reserve

☆ 'Big Short' investor Steve Eisman on the hardest lesson he's had to learn over the years
▼ + stars: | 2023-07-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman of "The Big Short" revealed a mistake he's made when trying to deploy his strategy of betting against stocks that made him famous. He said the failure of that trade made him realize the challenge of betting against a stock that doesn't trade on fundamentals. "The hardest thing that I have found over the years, is trying to short cult stocks, or meme stocks, they seem to go up on nothing," Eisman said on CNBC's " Squawk Box. " His success was chronicled in Michael Lewis' "The Big Short," and the subsequent Oscar-winning movie based on the book. Eisman said he was shocked by the stock's rally despite the EV company's drastic price cuts recently.

Persons: Steve Eisman, he's, Neuberger Berman, Eisman, shorting, Michael Lewis, Elon, Jim Chanos, Tesla, it's Organizations: Tesla Locations: United States

☆ 'Big Short' investor Steve Eisman says stocks will keep on chugging as long as economic data is fine
▼ + stars: | 2023-07-13 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman of "The Big Short" fame said Thursday that the stock market rally can carry on as long as the economy stays healthy. But it could go on for quite a bit longer because as long as the economic data is OK, I don't see why people are going to sell their stocks." The market ended the first half of the year with flying colors, and it just got another boost this week from softer-than-expected inflation data. So, for the regionals, I don't think earnings have bottomed and I wouldn't even think about buying them until I thought that they had," Eisman said. The widely followed investor also revealed he's betting on "greenification," or companies involved in solar panels, grid improvement and industrials.

Persons: Steve Eisman, Eisman, Neuberger Berman, hasn't, Michael Lewis Organizations: Federal Reserve, Fed

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